Omaha daily bee., 1887-07-18
How the Market Was Aroused From
the Prevailing OnnrcSaiYc DuIlnesa


New YORK. July l7.-ISpecial Telegram
to the BEE. This has been another short
week on the stock exchange in consequence
of the sudden and somewhat tragic death of
Vice President A. b. Hill. which brought
business to an abrupt end on Friday shortly
before noon. After the first few days had
elapsed business dwinded down toinsignii-
cant proportions with operations confined
largely to room traders There came new
phase in that ever mystfyiLg problem
known as the Baltimore Il Ohio deal. which
aroused the market from the dullness that
had become positively oppressive. The stock
of the Cincinnati, Hamilton & Dayton road,
which last sold at l46, but for which there
had been no quotation for long time past,
was suddenly offered down to 90 without a
single transaction. This was the great op-
portunity of traders, most of whom were
on the bear side, and they improved it by
making dash against the list generally
with signal success. That numerous nu-
favorable rumors should follow the break
in Cincinnati, Hamilton u Dayton goes
without saying. Milwaukee, Lake Shore &
Western and Wheeling & Lake Erie de-
clined 56S1s points. The pressure to sell
was very decided on the way down, and for
a time great depression prevailed. Follow
ing the remarkable movement in Cincinnati,
Hamilton & Dayton just noted, came
another Of an entirely different character,
with sales of l,2Oo shares at 1856 and l4l at
1927. With this shares change there were
rumors just as favorable as they were un-
favorable on the drop, with complete trans
number of stocks fully recovered the early
decline, and others partially regained their
losses; The feeling generally was much i'm
proved near the close, and some of the trad
mad k,,tlp I,tln S1,n~,
fight the rise. Such events as have marked
the course of business this week are not cal
culated to draw In the public, and notwth-
standing outside conditions are favorable.
| siOnals, and the market Is a narrow one. SO
much has been said and written about the
Baltimore & Ohio deal that it has become the
leading factor, and from present appearances
no settled condition of affairs may be looked
for until it eliminates. 1t appears rather
anomalous that the whole street could be
waiting on the ives syndicate aud be swayed
to and fro by every passing rumor in regard
to it, While matters remain as they are,
| opinions with regard to the future of the
market are simply idle, as prices change with
Railroad bonds were affected more by
| the fluctuations in their kindred stocks than
| by any other cause. The tendency
| of prices was downward until near the close
the decline having been equal to 13(45 points
| but finally an improved feeling set in and a
rally of 7S(a2 points occurred right through
| the list.
Governments were relatively firmer for AS
| than the 4s. The bids for the latter we're
| lowered considerably near the close, but ask
| ing prices showed less important change.
The foreign exchanges were heavy and
| lower during the greater part of the week,
| and the decline induced some further moder-
| ate shipments of gold from London to this
| side. But as the week wore along sight rate
| was advanced and the tone of the market
was iirmer.
The monetary situation was easy and rates
| for all loans ranged from 2]9 to 6 per cent,
| with the bulk of business at about 5 per cent.
| The July disbursement for interest ana
| dividends had their effect, and the banks
were more liberal lenders than of late.